Applied Industrial Technologies (AIT) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Share on StockTwits

Barrow Hanley Mewhinney & Strauss LLC cut its stake in shares of Applied Industrial Technologies (NYSE:AIT) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,014 shares of the industrial products company’s stock after selling 5,164 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.29% of Applied Industrial Technologies worth $8,166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Applied Industrial Technologies by 39.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 730 shares in the last quarter. Aperio Group LLC boosted its stake in Applied Industrial Technologies by 15.7% during the fourth quarter. Aperio Group LLC now owns 12,954 shares of the industrial products company’s stock worth $882,000 after acquiring an additional 1,761 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Applied Industrial Technologies by 314.4% during the fourth quarter. Teacher Retirement System of Texas now owns 13,367 shares of the industrial products company’s stock worth $910,000 after acquiring an additional 10,141 shares in the last quarter. California Public Employees Retirement System boosted its stake in Applied Industrial Technologies by 4.2% during the fourth quarter. California Public Employees Retirement System now owns 123,516 shares of the industrial products company’s stock worth $8,411,000 after acquiring an additional 4,936 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Applied Industrial Technologies by 2.3% during the fourth quarter. Swiss National Bank now owns 66,500 shares of the industrial products company’s stock worth $4,529,000 after acquiring an additional 1,500 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

In other Applied Industrial Technologies news, Director Peter C. Wallace sold 3,700 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $73.04, for a total value of $270,248.00. Following the transaction, the director now directly owns 25,337 shares of the company’s stock, valued at $1,850,614.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joe Anthony Raver acquired 1,585 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was acquired at an average cost of $63.20 per share, for a total transaction of $100,172.00. Following the completion of the purchase, the director now directly owns 3,982 shares of the company’s stock, valued at approximately $251,662.40. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on AIT. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.50.

Shares of NYSE AIT opened at $75.80 on Thursday. Applied Industrial Technologies has a 12-month low of $54.00 and a 12-month high of $76.20. The firm has a market cap of $2.92 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.71 and a beta of 0.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.67 and a current ratio of 2.84.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Applied Industrial Technologies had a net margin of 5.40% and a return on equity of 17.52%. The firm had revenue of $827.67 million for the quarter, compared to analyst estimates of $803.23 million. During the same period last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. equities research analysts predict that Applied Industrial Technologies will post 3.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 42.25%.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in the United States, Puerto Rico, Canada, Mexico, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center-Based Distribution and Fluid Power Businesses.

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply